Summary:
Vast sums of money intended for the benefit of the Palestinian
people have been diverted by Yasser Arafat over the course
of decades into secret bank accounts. These sums facilitated
the corruption of the Palestinian leadership, and were a
source of Arafat’s power. According to Forbes magazine,
Mr Arafat’s personal fortune (at a time when poverty
among the Palestinian people is rife) made him one of the
richest leaders in the world.

This Briefing provides the key facts on how Mr Arafat has robbed
the Palestinian people of billions of dollars. The information
is based on a report published on 12 November 2004 in the Jerusalem
Post by highly-respected Israeli Arab journalist Khaled Abu
Toameh, in which he summarises published information from the
International Monetary Fund and other sources about Mr Arafat’s
financial corruption. Abu Toameh also provides some reactions
from within Palestinian society.

Facts from The International Monetary Fund and the
US-based Centre for Democracy

In 2003 the International Monetary Fund reported that $900 million
in funds directed towards the Arafat-controlled Palestinian Authority
since 1994 never reached the Palestinian treasury, but instead,
over the course of years, had gone into accounts controlled by
Arafat.

The IMF also found in 2003 that $34 million out of the $74 million
budget for Arafat’s own office was missing after having
been transferred to pay unidentified organisations and individuals.

In July 2004 the New York-based Centre for Democracy reported
that Arafat personally controlled 60% of the Palestinian security
apparatus budget, “giving him $360 million to spend each
year”.

The Centre stated that between July 2002 and September 2003
Arafat transferred $11.4 million to bank accounts controlled by
his wife Suha Arafat, in Paris. At the time of Arafat’s
death, she was reportedly receiving a monthly stipend of $100,000
from the Palestinian treasury.

The Centre estimates that as at August 2002 Arafat’s
personal fortune amounted to $1.3 billion. US and Israeli estimates
are far higher.

Forbes Magazine, estimating Arafat’s personal fortune
at a more conservative $200 million, ranked him as sixth in its
2003 rankings of the world’s wealthiest “kings, queens
and despots”.

Former PLO Finance Minister Jawid al-Ghussein on Arafat’s corruption:

Here (as reported by the Jerusalem Post) is a comment by
Jawid al-Ghussein, a former PLO finance minister who lives
in London, and who, for a period of 12 years, deposited between
$7.5m and $8m each month into Arafat’s personal account:

“The billions which Arafat has stolen over the years
from the Palestinian people facilitated the corruption of
the Palestinian leadership, and are a source of his power
over them….. The money is in personal accounts under
his complete control. Only one person knew where the money
went, and that was Arafat…”

Senior
Palestinian legislator: “give the money back to
the Palestinians….”

Here are the reported comments of Hassan Khraisheh, deputy
speaker of the Palestinian Legislative Council:

“We are calling on the French authorities [Suha
Arafat resides in France] to seize the money and give
it back to the Palestinian people. The problem is not
only Suha but scores of Palestinian officials who have
secret bank accounts around the world….”

Palestinian
legislator: “I would like to see these thieves brought
to trial….”

A Palestinian legislator is quoted as saying: “I
don’t think we will ever be able to lay our hands
on all the money, but even if we find a few million dollars
that would be an achievement. I would like to see some
of these thieves brought to trial and executed in a public
square….

Palestinian
editor in Ramallah: “Arafat is taking secrets to
the grave….”

And here are the reported comments of a Palestinian editor
in Ramallah:

“Arafat is taking with him to the grave the secret
of the bank accounts, much to the dismay of most Palestinians.
This is a tragedy. The Palestinian people are among the
poorest in the world, while their leaders are among the
richest…”

.

Our Conclusion: Mr Arafat established a vast
network of corruption, through which he exerted power over his
people, horded massive personal wealth for himself and his wife,
and sustained a group of cronies around him.

These activities betrayed the interests and aspirations of
the Palestinian people.

Courageous Palestinian politicians and commentators are speaking
out. But many Western journalists and commentators whitewash
these facts.